martii
New member
Electricity and gas rates: the Government reported how it will determine the value of the bills for each residential user from April - Infobae
Source:
www.infobae.com
January 08, 2024
Strong increases in bills are expected in the coming months. In the case of gas there will be a transfer of the production cost in thirds.
By Agustín Maza
A new energy rate subsidy scheme will begin in April. (Adrián Escandar)
The Government reported that from April it will replace the segmentation of subsidies on electricity rates a>.International Monetary Fund (IMF)in 2024 and in the middle of negotiations with the fiscal balance , with the objective of achieving theMinistry of Economy for each area of the country, by which the amount will be determined. of assistance for each type of home. The measure is a fundamental part of the adjustment carried out by the basic energy basket”that the previous management had implemented. The new scheme will take into account the total income of the family group and a “gas and
The decision was communicated this morning by the Secretary of Energy, Eduardo Rodríguez Chirillo, within the framework of the virtual public hearing on gas that It is done during these hours. There, the strong increases in public service bills are studied, based on the removal of subsidies plus a recomposition of company income, and a monthly indexation index to avoid new delays in real terms. Alternatives will also be presented for the filling of the Northern Gas Pipeline.
As Chirillo explained through his presentation, the new proposal for subsidies has five pillars. The first will be to determine the total income of the cohabiting group in a family unit. The second will be to establish a “basic energy basket”, which covers the basic and essential needs of people, which will be determined in an amount of a>. different areas of the country which would be the maximum of what is considered subsidizable. This basket will take into account the types of consumption in cubic meters in the case of gas or kilowatt hours per month for electricity.
Then, the cost of these quantities (MM3 or kwH/month) must be compared with the income of the cohabiting group and limit the incidence of that cost to a percentage of the income, subsidizing the difference. “The subsidy will be for situations of vulnerability,” explained the Secretary of Energy. Specifically, assistance will be granted when the price of the basic energy basket exceeds a certain percentage of the total income of the cohabiting group...
Currently, segmentation contemplates three universes of users but determined by the Total Basic Basket (CBT) of the Indec: those N1 (high income) who pay the full rate for having an income greater than 3.5 CBT , N2 (low income) with social rate and N3 (middle income ) that maintain a subsidy of up to 400 KWH in the case of electricity and pay in full for the surplus. “Users continue to have widespread subsidies because the prices set in wholesale markets do not cover costs. There is overlapping of social plans because many are in N2 and lack of control in the user registry,” said Chirlillo.
The change proposed by the Government not only has to do with rebuilding the income of companies to give “clear signals of investment”, but also with the economic program in general. The removal of subsidies is key to the fiscal adjustment carried out by the Minister of Economy, Luis Caputo.
In this sense, the advisor to the Ministry of Economy, Martín Vauthier, spoke after the presentation of the Secretary of Energy. The economist who was part of the consulting firm Anker Latinoamérica, led by Caputo before arriving at the Palacio de Hacienda, focused on the effect of the allocation of the assistance in energy rates on tax accounts, inflation, the monetary issue and the public debt.
Energy subsidies represented 2% of GDP in 2023.
The numbers managed by the Treasury Palace showed that energy subsidies represented 1.5% of the Gross Domestic Product (GDP) in 2023, a decrease compared to 2 points in 2022 and 2.3 points in 2021. In 2019 the amount was equivalent to 1 point of GDP at the end of the Government of Mauricio Macri and in 2020 it jumped to 1.8% of GDP, already in the management of the former president < a i=7>Alberto Fernández.
On the other hand, Vauthier highlighted that these expenditures represented half of the primary fiscal deficit last year after the application of segmentation, while in 2022 they had been 83.3% and in 2021 74.1% of that red. Furthermore, he pointed out that in 2023 these items were four times higher than the expenditure on the Universal Child Allowance (AUH) , which added up to 0.4% of the GDP.
Energy subsidies more than tripled State spending on the AUH last year.
“All expenses, to materialize, must be financed. The existence of a fiscal deficit implies that Treasury expenses exceed income. Assuming that taxes are not increased or other expenditures are cut, the financing of this excess of expenses over income can only occur in two ways: monetary issue and debt,” highlighted the Economy advisor.
“By not eliminating the fiscal deficit, for decades Argentina tried to mitigate the consequences of its financing: price controls for inflation, stocks for the dollar and debt restructuring. This generated dramatic consequences for our country: unviability of long-term investment projects, inability to create quality employment and strong deterioration in social indicators”, concluded Vauthier.
www.buysellba.com
Source:
Tarifas de luz y gas: el Gobierno informó cómo determinará el valor de las facturas para cada usuario residencial desde abril
Se esperan fuertes incrementos en las facturas durante los próximos meses. En el caso del gas habrá un traslado del costo de producción en tercios
www.infobae.com
January 08, 2024
Strong increases in bills are expected in the coming months. In the case of gas there will be a transfer of the production cost in thirds.
By Agustín Maza
A new energy rate subsidy scheme will begin in April. (Adrián Escandar)
The Government reported that from April it will replace the segmentation of subsidies on electricity rates a>.International Monetary Fund (IMF)in 2024 and in the middle of negotiations with the fiscal balance , with the objective of achieving theMinistry of Economy for each area of the country, by which the amount will be determined. of assistance for each type of home. The measure is a fundamental part of the adjustment carried out by the basic energy basket”that the previous management had implemented. The new scheme will take into account the total income of the family group and a “gas and
The decision was communicated this morning by the Secretary of Energy, Eduardo Rodríguez Chirillo, within the framework of the virtual public hearing on gas that It is done during these hours. There, the strong increases in public service bills are studied, based on the removal of subsidies plus a recomposition of company income, and a monthly indexation index to avoid new delays in real terms. Alternatives will also be presented for the filling of the Northern Gas Pipeline.
As Chirillo explained through his presentation, the new proposal for subsidies has five pillars. The first will be to determine the total income of the cohabiting group in a family unit. The second will be to establish a “basic energy basket”, which covers the basic and essential needs of people, which will be determined in an amount of a>. different areas of the country which would be the maximum of what is considered subsidizable. This basket will take into account the types of consumption in cubic meters in the case of gas or kilowatt hours per month for electricity.
Then, the cost of these quantities (MM3 or kwH/month) must be compared with the income of the cohabiting group and limit the incidence of that cost to a percentage of the income, subsidizing the difference. “The subsidy will be for situations of vulnerability,” explained the Secretary of Energy. Specifically, assistance will be granted when the price of the basic energy basket exceeds a certain percentage of the total income of the cohabiting group...
Currently, segmentation contemplates three universes of users but determined by the Total Basic Basket (CBT) of the Indec: those N1 (high income) who pay the full rate for having an income greater than 3.5 CBT , N2 (low income) with social rate and N3 (middle income ) that maintain a subsidy of up to 400 KWH in the case of electricity and pay in full for the surplus. “Users continue to have widespread subsidies because the prices set in wholesale markets do not cover costs. There is overlapping of social plans because many are in N2 and lack of control in the user registry,” said Chirlillo.
The change proposed by the Government not only has to do with rebuilding the income of companies to give “clear signals of investment”, but also with the economic program in general. The removal of subsidies is key to the fiscal adjustment carried out by the Minister of Economy, Luis Caputo.
In this sense, the advisor to the Ministry of Economy, Martín Vauthier, spoke after the presentation of the Secretary of Energy. The economist who was part of the consulting firm Anker Latinoamérica, led by Caputo before arriving at the Palacio de Hacienda, focused on the effect of the allocation of the assistance in energy rates on tax accounts, inflation, the monetary issue and the public debt.
Energy subsidies represented 2% of GDP in 2023.
The numbers managed by the Treasury Palace showed that energy subsidies represented 1.5% of the Gross Domestic Product (GDP) in 2023, a decrease compared to 2 points in 2022 and 2.3 points in 2021. In 2019 the amount was equivalent to 1 point of GDP at the end of the Government of Mauricio Macri and in 2020 it jumped to 1.8% of GDP, already in the management of the former president < a i=7>Alberto Fernández.
On the other hand, Vauthier highlighted that these expenditures represented half of the primary fiscal deficit last year after the application of segmentation, while in 2022 they had been 83.3% and in 2021 74.1% of that red. Furthermore, he pointed out that in 2023 these items were four times higher than the expenditure on the Universal Child Allowance (AUH) , which added up to 0.4% of the GDP.
Energy subsidies more than tripled State spending on the AUH last year.
“All expenses, to materialize, must be financed. The existence of a fiscal deficit implies that Treasury expenses exceed income. Assuming that taxes are not increased or other expenditures are cut, the financing of this excess of expenses over income can only occur in two ways: monetary issue and debt,” highlighted the Economy advisor.
“By not eliminating the fiscal deficit, for decades Argentina tried to mitigate the consequences of its financing: price controls for inflation, stocks for the dollar and debt restructuring. This generated dramatic consequences for our country: unviability of long-term investment projects, inability to create quality employment and strong deterioration in social indicators”, concluded Vauthier.
www.buysellba.com
